After years of renting we are looking at trying to get a mortgage following a trust deed that was completed two years ago. Trust deed was initially started six years ago, so I'm hoping that after six years it drops off? Is this correct?
Anyway, I know I'll need to speak to a broker, but looking for any advice people can give me if they have been in a similar situation. Credit history is still poor following the TD (think this is an IVA in England)
Parents would be happy to act as guarantors I'm sure, but would they be able to take a 2nd mortgage out in their name? (they already own their house).
I was even thinking of a scenario of my parents taking out mortgage for us, then we transfer to our name after say 5 years when credit history is clear. Not sure if that's possible or not.
Any tips/helps/advice would be much appreciated......
Anyway, I know I'll need to speak to a broker, but looking for any advice people can give me if they have been in a similar situation. Credit history is still poor following the TD (think this is an IVA in England)
Parents would be happy to act as guarantors I'm sure, but would they be able to take a 2nd mortgage out in their name? (they already own their house).
I was even thinking of a scenario of my parents taking out mortgage for us, then we transfer to our name after say 5 years when credit history is clear. Not sure if that's possible or not.
Any tips/helps/advice would be much appreciated......